You decided to raise more capital for your business to help cover the cost of the additional contracts purchased in your

acquisition. Therefore, you issued a bond to raise capital for expansion. Your company also invested in a bond issued by other

entities as part of its investment portfolio. Use the following transactions to record journal entries:

On April $1,2021,$ you issued a $10-$year $$1,000,000$ face value bond at par value with a $5\%$ annual interest rate, payable semi$-$

annually.

On July $1,2021,$ you purchased a $6-$year $$500,000$ face value bond with a $12\%$ annual interest rate issued by XYZ Corporation,

payable annually.

Assume the market rate is $10\%$

On September $30,2021,$ your company paid semi$-$annual interest to bondholders.

Provide the journal entry to record the initial transaction of these bonds at their present value. Using the previous scenario, create an amortization schedule on both of the bonds. Additionally, provide the journal entries of

the bond's activities for your company's fiscal year $2021$ to be reported on the year$-$end financial statements